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Posts Tagged ‘homebuilding’

Ikea for Homebuilding? Revolution Precrafted Eyes Unicorn Status

May 20th, 2017 Comments off
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Credit: Revolution Precrafted Homes.

For Robbie Antonio of Revolution Precrafted Homes, it’s all about unicorns.

Unicorns, as in startup companies that are valued at $1 billion. What’s his plan?

To be the Ikea of homebuilding, delivering prefabs, created by world-renowned architects at affordable prices.

We try to really be a plug-and-play [real-estate] company that saves people a lot of time and brain power,” said Antonio.

I [also] want to make design accessible to everyone, not just the wealthy. Zara was built on the idea that luxury design should be available to everyone, as was Ikea. Revolution Precrafted is the platform for this vision—in property.”

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Robbie Antonio. Credit: Design Bloom & Revolution Pre-crafted Properties.

According to the Inquirer, Antonio’s vision for Revolution has led to five development projects for up to 5,000 homes, and venture capital and investment firms including 500 Startups, which provided the company’s first round of funding.

Indonesia-based Bakrie Global Ventura has also committed in a major way, by signing a $1.1-billion joint venture agreement with Revolution during the recent Asean Summit.

500 Startups is always looking for large industries whose value chains are fundamentally disrupted by a new business model, but it’s not always easy to find. Revolution represented the best of all of it; the property construction industry is as big as it gets, and their disruptive business model is real,” said 500 Startups managing partner Khailee Ng.

Revolution Precrafted is following in the footsteps of “disruptors” such as Uber and AirBnB, delivering quality and value with speed.

There’s a plethora of developers all over the world and they do the same thing: They buy land, they build, they have different products. But I thought, if I’m going to create a different business line, it’s going to have to be extremely differentiated,” says Antonio.

I started looking at companies like AirBnB and Uber, and what they had in common was, No. 1, they’re global companies, they’re not pigeonholed into one region or country; No. 2, they don’t have any inventory. And they obviously use technology to disrupt.”

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Eric Trump sits on the Revolution Precrafted Board of Directors. Credit: MHLivingNews.

Antonio has doubled down on that philosophy, working exclusively with some of the world’s best architects such as Zaha Hadid, Christian de Portzamparc, Paulo Mendes de Rocha and Jean Nouvel. He has also added celebrity designers Tom Dixon, Lenny Kravitz and Daphne Guinness as part of the company’s portfolio.

We own intellectual property, and that happens to be the world’s best architects with global exclusive licenses. Meaning you cannot hire Lenny Kravitz to do a house for you unless you go through Revolution,” said Antonio. “The only other option is, you can do a customized house, which will cost you millions of dollars.”

Antonio shared that Revolution’s homes start at $30,000, and can be constructed in around three to six months. Condos and hotels can be finished in around six months to a year.

I like this business because no one else is doing it. There’s no other branded housing developer in the world, prefab or not. Towers, I’ve done that. But for homes, no one has done that,” says Antonio.

For all of his success, Antonio says that the best part of Revolution is Filipino pride.

We’re a Philippine company with global ambitions—and we’re proud to be domiciled here,” he says.

For more on Revolution Precrafted Homes, click here. ##

 

(Image credits are as shown above, and when provided by third parties, are shared under fair use guidelines.)

 

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RC Williams, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

 

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Modular Builder Holding Workshops on Construction

May 7th, 2013 Comments off

According to northbaybusinessjournal in Calif., Santa Rosa-based HybridCore Homes is designing the first phase of an 81-unit modular apartment complex in Williston, North Dakota, where the Bakken Oil Field has created a large demand for housing. The second phase calls for an additional 324 apartments. The name refers to the melding of off-site and on-site construction techniques for building a home, beginning with a module. Other modular projects HybridCore is working on include a 24-unit apartment in LaCrosse, Wis. and three single homes in Austin In California, the company has two projects with Calistoga Affordable Housing, a 60-plus townhome development, and several individual homes around the state. Otis Orsburn, vice-president of construction, says, “As new home construction gets back on the radar, we are getting calls daily about using the HybridCore Homes methodology of homebuilding.” The firm won the Best New Home Design in the 2,200 square foot category awarded by the National Modular Housing Council in April. MHProNews understands the company is holding a two-day workshop for builders May 22 and 23 in Santa Rosa to learn the technology.

(Photo credit: northbaybusinessjournal–HybridCore Home in Los altos, Calif.)

Cavco Financials: Holding Steady

February 1st, 2013 Comments off

GlobeNews reports Cavco Industries, Inc.’s financials for the fiscal third-quarter 2013 reveal net sales remained the same as for same quarter 2012–$114.6 million. Net income was $3 million for both. The first nine months of FY 2013, which ended Dec. 29, 2012 saw sales drop by $.01 million from the same period last year to $343.5 million. Net income for the first nine months of FY 2013 attributable to Cavco stockholders was $3.6 million versus $13.3 million for last year, which includes $11 million as the result of acquiring Palm Harbor in 2011. Speaking of Q3, Joseph Stegmayer, Chairman, President and Chief Executive Officer (and former MHI Chairman) says, “We are pleased with the continued contributions and progress of our acquired businesses. However, increasing homebuilding component and raw material costs, continued competitive pricing pressures, market demand for smaller and lower price-point homes and a higher income tax provision adversely affected our earnings during the quarter. The average sales price per home was approximately $50,100 during the third quarter of fiscal year 2013 compared to $53,200 during the third quarter last year, a 5.8% decrease. On a positive note, home sales increased this quarter to 2,065 homes, 4.7% higher than 1,972 homes sold during the same quarter last year.” As MHProNews understands, Cavco is the second largest producer of manufactured homes in the nation.

(Photo credit: Stacey Hairston/Franklin News-Post–Cavco plant Rocky Mt. Vir.)

Has Homebuilding Hit a Bump?

November 12th, 2012 Comments off

CNNMoney reports homebuilder D. R. Horton (DHI) missed revenue estimates in the third quarter 2012, but notched a profit that beat estimates. Meanwhile, Beazer Homes (BZH) exceeded its revenue expectations but its quarterly loss was more than anticipated, as it’s stock dropped nearly 14 percent. Horton’s shares fell 3.5 percent. The Standard & Poor’s Homebuilders ETF (exchange traded fund) was down nearly one percent for the day, continuing a slide from last week. As MHProNews has learned, many housing stocks have done well this year, but it may just be in anticipation of the worst being over.

(Image credit: Joshua Scott/CNNMoney)

Cavco Releases Financial Results

November 2nd, 2012 Comments off

In its report of fiscal 2013 second quarter financial results, Phoenix-based Cavco Industries , Inc. (Nasdaq: CVCO), reports net sales fell 15.3 percent, to $110,084,000 from the comparable period of 2012 when sales hit $130,008,000. GlobeNewsWire says net income for Q2 2013 dropped to $2,681,000 from $3,172,000 for the same period in the previous fiscal year. Net sales for the first six months of fiscal 2013 totaled $228,865,000 as compared to $228,989,000 for the first six months in the previous year. Net income for the first six months of fiscal 2012 fell from $11,907,000 to $2,114,000 for the comparable period of fiscal 2013. Joeph Stegmayer, president, chairman and CEO of Cavco attributes the drop in earnings for Q2 2013 to fewer overall homes sold, lower average sales prices from lower price-point homes, and increased competition. While revenues declined, gross margins improved comparing Q2 2013 to the same fiscal period of 2012. He says, “To counteract these challenges, we have continued to expand our sales in niche market areas including, among others: workforce housing, homes for rental use in planned communities, multi-family developments, and camping cabins. The Company’s acquisitions in recent years have helped successfully expand our competencies on numerous homebuilding platforms.” As MHProNews has learned, Cavco is the second largest producer of manufactured housing in the U.S. A conference call will be held Fri., Nov. 2 at 12:00 eastern time to discuss these results. For access, go to www.cavco.com and click on the Investor Relations link. Cavco closed up +3.70% at $50. Nov. 1.

Houses as Durable Goods

October 4th, 2012 Comments off

Matthew Iglesias, writing in Slate magazine, notes that durable goods—appliances, furniture, vehicles, airplanes— are primarily mass-produced in factories because that is the most cost-effective way to produce the least expensive product for the consumer, and the highest wage for the worker. Some of these products occupy space in homes, which could be considered the epitome of durability. The typical new site-built home is in a neighborhood where the homes look like they came from an assembly line. As MHProNews has learned, the recent housing downturn resulted in part from innovations in mortgage brokering that consumers did not understand or benefit from, but returned a healthy profit for the lenders. Iglesias writes: “But while the technology exists to build houses in factories and then deliver them to the location, it remains marginalized in American life by negative attitudes and legal impediments. And yet there are a bunch of reasons to think that manufactured houses (and the related sector of modular houses) is a more dynamic sector with more prospects for productivity increases and wage gains than is conventional single-family homebuilding. It’s time to return to developing affordable housing the old-fashioned way: finding more efficient, cost-effective ways to make the houses, rather than more efficient ways to make the loans.” For the complete article, please click here.

(Photo credit: Wikipedia–new manufactured homes ready for shipment)

77-room Hotel Rising for Oilfield Accommodations

September 28th, 2012 Comments off

PRWeb reports GDH Housing, LLC in Covington, Louisiana will construct, deliver, and assemble a modular 77 room hotel, comprised of 48 modules, to Williston, North Dakota to ease the rapidly growing need for quality accommodations in support of the oil exploration effort. Through an agreement with modular home builder Ritz-Craft Corporation, production on the three-story hotel will begin in the fourth quarter of this year and the facility will be ready to accept its first guests in the first quarter of 2012. MHProNews has learned GDH (Global Deployable Housing) offers stackable, state-of-the-art modular housing solutions, especially in quick turn-around and disaster situations. Ritz-Craft has residential homebuilding roots dating to 1954, and its website states it is the largest family-owned modular home builder in the nation.

(Photo credit: GDH Housing, LLC)

Economy Muddles Along

August 2nd, 2012 Comments off

greenvilleonline reports trade group Institute for Supply Management (ISM) says its manufacturing index edged up from June over July 49.7 to 49.8, but still shy of 50, which indicates the economy is contracting. Any reading below 43 would indicate recession. The report notes job growth has stalled and manufacturing activity has weakened amid reports of economic woes in Europe, and lessened demand for U.S. goods in China, India and Brazil because of slower growth in those economies. The government reports construction spending rose for the third straight month, attributable to a rise in homebuilding, suggesting the housing industry may be turning around. Meanwhile, payroll services provider ADP says businesses added 163,000 jobs in July, but economists expect the government report out Fri., Aug. 3 will show only about 100,000 jobs were added, leaving the unemployment rate at 8.2 percent. MHProNews has learned manufacturers added only an average of 10,000 jobs a month in Q2 2012, well below the monthly 41,000 average in the first quarter of this year. Weak consumer spending, which fuels economic growth, fell to 1.5% in the second quarter from two percent in Q1.

(Photo credit: flickreview)

Rising Building Permits Bode Well

June 22nd, 2012 Comments off

CNNMoney reports the Census Bureau says building permit applications for new homes rose to an annual rate of 780,000 in May, the highest rate since Sept. 2008, reflecting the National Association of Home Builders (NAHB) survey of builder confidence which hit its highest mark since 2007, as we reported here June 19, 2012. Overall housing starts dropped 4.8 percent compared to April, although they did rise 28.5 percent over the same month a year earlier. Housing market analyst Pat Newport, with IHS Global Insight, says the unusually warm winter advanced the start of the homebuilding season, creating a lull at a time that is usually busy. MHProNews has learned in a sluggish economy lulls are no surprise.

(Photo credit: NakedPhilly)